Market Overview

Sterling climbs and gold firms while equities soften before Chinese credit data 

ADFX Team

Market Recap 

XAUUSD 
XAUUSD finished the 23 Jan session near its highs, closing at 4,988.09, a gain of 45.85 points or 0.93% from the 01:00 open at 4,942.24. Price action first extended lower, touching 4,899.82 at 11:29 and briefly probing the 4,900 handle, before reversing to print the day’s high at 4,989.76 at 21:54. The intraday range measured 89.94 points, equal to 1.82% of the open, with the close settling within a few points of the peak and near the 4,990 handle. The sequence placed the session low in late morning and the high into late evening, and the tape crossed a 100-handle boundary during the move. By the close the instrument had registered new five- and ten-day highs, while the five-day low stands at 4,620.23. On higher timeframes, the H4 MACD read 70.78 and the D1 MACD signal stood at 112.7. Overall, the session advanced from an early test of the 4,900 round number to end near the top of the day’s distribution, with a close that remained tight to the session high of 4,989.76. The day’s range and placement of the close highlight an intraday recovery that left price action near the upper end of recent multi-day extremes, with the new highs confirmed by the session setting both five- and ten-day marks and finishing adjacent to the 4,990 handle. 

GBPUSD 
GBPUSD advanced through the session, closing at 1.36 after setting the high at 1.36 at 23:28, while the session low was 1.35 at 10:33. From an open at 1.35, the pair finished higher by 0.01, a gain of 1.09%, after traversing a range of 0.02, or 1.21% of the open. The close was near the top of the day’s range, with price marking the low late in the European morning and building to the late-session high. Trading engaged round numbers, stabilizing around 1.35 early on and later pressing through the 1.36 handle into the close. The session registered fresh 5‑day and 10‑day highs, while the referenced 5‑day low sits at 1.33. On higher timeframes, the H4 RSI14 printed 84.1 by the end of the period. On the daily scale, price remains above the 50‑day simple moving average at 1.34 and above the Bollinger midline at 1.35. On the hourly scale, the 20‑period simple moving average at 1.35 was left below price into the close. Contextually, the day’s finish near the high contrasts with the early low, indicating an upwardly skewed intraday distribution, and the late high coincided with the session’s final half hour. By the close at 23:56, GBPUSD had retained levels above intraday support seen around 1.35 and maintained proximity to the newly set multi‑day highs, ending the day elevated within the daily range and above the referenced moving average and Bollinger midline levels. 

US30 
US30 finished the session at 49,036.56, down 352 points (-0.713%), after a day that stretched 497 points, or 1.01% of the open. Trading began at 49,388.56 and first extended to the session high of 49,481.51 at 08:20, remaining below the 49,500 mark, before sliding into the late-day low of 48,984.51 at 20:06. The close left the index 52 points above the low and 445 points beneath the high, positioning the settlement near the lower end of the day’s range. Price action crossed a 10-handle boundary during the session and briefly dipped below the 49,000 round figure, while the final print came close to the 49,040 handle indicated by the nearest 10-handle reference. The day’s movement held beneath the recent 5-day high at 49,653.51. On the higher timeframes, daily momentum metrics were mixed: D1 RSI14 sat at 50.29, and the D1 MACD signal was 318.32, offering context without a directional inflection signaled by this data alone. Intraday structure showed an early push to the day’s peak followed by a steady descent into the evening low, with the closing level consolidating near the bottom of the range. No tick volume or average true range readings were provided for comparison, and there were no additional technical overlays cited. 

Economic Calendar Recap & Preview 

Japan’s central bank held its policy rate steady at 0.75 percent, unchanged from the prior 0.75 percent, marking an uneventful decision on rates over the past day. Looking ahead, the calendar is sparse: at 03:00 server time, China’s PBC New Loans are due, with no previous or consensus figures available on the docket; higher-than-expected issuance would typically signal a stronger credit impulse and near-term activity. No major central bank speeches are slated in the same window. With few competing data points, market liquidity conditions could amplify price moves around the Chinese credit print. 

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